@MsMorrisine said:
2019 still on sale, so they decide to lower mintage and then make the premium 50%.
this is signalling there are already too many palladium issues. perhaps they wise up and stop it this year.
Federal Law mandates the minting of Palladium coins. Unless Federal Law is changed the Mint will issue Palladium coins. As long as there is Palladium mining in the United States, there will be Palladium coins issued by the United States Mint...
If the Mint would change the design there would be more interest. The platinum proof $100's have different designs and that makes them more interesting to keep.
And what is with the absurd $25 stated value? Make it $1,000 and see if that helps. Maybe they need to try a new Mars or Venus concept next time. LOL.
The 2017 and 2018 issues sold out, but while sales for the Reverse Proof 2019-W American Eagle palladium coin surpassed the edition limits of the two prior coins, sales slowed well shy of reaching the doubled amount available for the 2019 edition. As of the U.S. Mint’s Aug. 16, 2020, sales report, just 17,691 of the maximum 30,000 coins authorized were sold. The numismatic product is still available to interested buyers, and as of Aug. 24, was being offered at $2,850 per coin.
“I flipped mine for a $100 profit. Better than nothing.”
Congratulations! Had I known your source, I could have accepted another 25-50 coins offered to me today for basically $0 over mint cost and had a nice payday.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
just got a text from a trusted "source" -- they seem to be moving at a snails pace (roughly 1 per minute). If you are interested, there are roughly 60 remaining...
@DotStore said:
just got a text from a trusted "source" -- they seem to be moving at a snails pace (roughly 1 per minute). If you are interested, there are roughly 60 remaining...
Well if they actually do sell out today at the Mint, several eBay sellers might be able to breakeven after fees, shipping, and insurance. Edited to add that it is close to your 12:15 number (on the West Coast).
I know there are a lot of speculators in on this. People with no connection to coins were trying to get people to buy these for them, presumably to flip.
So the Mint scores $30 million in sales in one day, less a pre-arranged metal cost based on recent pricing, and less payment for the blanks, plus simple just copy the dies from before.
So as a guess say $2250/oz palladium, plus $250/oz. or $2-3 million??? for actual striking, marketing, and selling expenses as a rough guess. We pay shipping already.
So they might have actually have made $5 million on these??? Usually they have a loss on things like these that have low mintages, so was this a win for the Mint?
@Goldminers said:
So the Mint scores $30 million in sales in one day, less a pre-arranged metal cost based on recent pricing, and less payment for the blanks, plus simple just copy the dies from before.
So as a guess say $2250/oz palladium, plus $250/oz. or $2-3 million??? for actual striking, marketing, and selling expenses as a rough guess. We pay shipping already.
So they might have actually have made $5 million on these??? Usually they have a loss on things like these that have low mintages, so was this a win for the Mint?
The Mint has never made any money on the Palladium coins in the past. The price Increase of $262.50 on March 17, 2020, MAY be enough to make these profitable...
I'd never pay such a ridiculous premium for one of these. I'd also never buy a $3000 coin to flip for a $100 "profit". That $100 is decreased by shipping costs, my time, and the risk of it being mishandled in shipping to the buyer. Yikes! Not worth a 3% profit.
I highly doubt there are 10,000 collectors for these. My 2017 MS70PL palladium has been listed on the forum off an on for a year for $5000 which is way below eBay prices ($6000-$8000 sold listings), and no one has bought it.
Usually they have a loss on things like these that have low mintages, so was this a win for the Mint?
The Mint has never made any money on the Palladium coins in the past. The price Increase of $262.50 on March 17, 2020, MAY be enough to make these profitable...
Yes that was my point, maybe this was not a Mint loss for a change.
It would really be good to know if the Mint will actually release info of the bot and or duplicate orders they had to cancel on this. There was some mention this transparency could happen? Critical info prior to 1945.
@jclovescoins said:
I'd never pay such a ridiculous premium for one of these. I'd also never buy a $3000 coin to flip for a $100 "profit". That $100 is decreased by shipping costs, my time, and the risk of it being mishandled in shipping to the buyer. Yikes! Not worth a 3% profit.
I highly doubt there are 10,000 collectors for these. My 2017 MS70PL palladium has been listed on the forum off an on for a year for $5000 which is way below eBay prices ($6000-$8000 sold listings), and no one has bought it.
You do you. Big coin shops regularly buy/sell gold bullion on smaller margins than 3%. I am not even opening the box, I am literally just sticking it into a bigger box with a piece of paper, sticking a shipping label on it, and sending it right back out to them. It is maybe 20 minutes of work tops all in. I get you are risk adverse and probably quite inexperienced in flipping coins, but that is no reason to attack what somebody else is doing.
Also, I thought it was going to be a ~$190 profit prior to the dealer pulling back a bit due to the lack of a quick sellout. I will still take a $90ish profit (first class shipping to the wholesaler) over returning it.
3% in 2 weeks is still miles higher than this money will get sitting in my savings account.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
Yes that was my point, maybe this was not a Mint loss for a change.
>
Goldminers...
>
On a Normal year I would assume that the price Increases would put the Mint in the Green, however, with COVID I assume expenses are through the roof vs. a normal year...
“I'd also never buy a $3000 coin to flip for a $100 "profit". That $100 is decreased by shipping costs, my time, and the risk of it being mishandled in shipping to the buyer. Yikes! Not worth a 3% profit.”
I agree with you for any coin bought from the Mint that requires (2) successful deliveries to earn that 3%. I could literally write a (short) book on what has gone wrong over the years with shipped coins not only from the Mint, but from buyers of mint product reshipping the items out again. Add the COVID restrictions on normal delivery procedure into the mix and one would have to almost be a thrill seeker in my opinion to want to do this risking $3,000 to net $80 or $90.
Rest assured, I am not belittling here earning an honest $80 or $90 for a days work. I am talking about the energy expended monitoring (2) successful deliveries in this a COVID environment we live in today. And, risking $3,000 on top of that if something goes terribly wrong.
Now, doing a favor for a colleague- that’s another story.
Just my 2 cents.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
Nothing good can be said about this virus. It is causing a lot of unreported and unimagined damage to millions of people in many different ways.
However, I give great kudos to the Mint. I reluctantly bought one in spite of my major price misgivings for my modern set addiction, and as unbelievable as it is, I just got a shipping and tracking notification that I will have it in hand by 10:30 AM tomorrow on the West Coast.
It was $20 extra, but that is projected to be really fast. Now my big question is, what will it look like? Uncirculated coins can be tough for 70's.
@jclovescoins said:
I'd never pay such a ridiculous premium for one of these. I'd also never buy a $3000 coin to flip for a $100 "profit". That $100 is decreased by shipping costs, my time, and the risk of it being mishandled in shipping to the buyer. Yikes! Not worth a 3% profit.
I highly doubt there are 10,000 collectors for these. My 2017 MS70PL palladium has been listed on the forum off an on for a year for $5000 which is way below eBay prices ($6000-$8000 sold listings), and no one has bought it.
You do you. Big coin shops regularly buy/sell gold bullion on smaller margins than 3%. I am not even opening the box, I am literally just sticking it into a bigger box with a piece of paper, sticking a shipping label on it, and sending it right back out to them. It is maybe 20 minutes of work tops all in. I get you are risk adverse and probably quite inexperienced in flipping coins, but that is no reason to attack what somebody else is doing.
Also, I thought it was going to be a ~$190 profit prior to the dealer pulling back a bit due to the lack of a quick sellout. I will still take a $90ish profit (first class shipping to the wholesaler) over returning it.
3% in 2 weeks is still miles higher than this money will get sitting in my savings account.
My comments are not the least bit attacking. I agree: do what you want. But for the average person, buying this coin is definitely not worth it. Add in the risk of holding it for a few weeks and wondering what will happen to the price (like so many “flippers” do). You are right that 3% beats the savings account, but the analogy to gold bullion spreads is a poor example - Palladium with a 50% premium is not a well-defined, highly liquid segment of the market. Just my two cents. No need to attack me 🙂
@jclovescoins said:
I'd never pay such a ridiculous premium for one of these. I'd also never buy a $3000 coin to flip for a $100 "profit". That $100 is decreased by shipping costs, my time, and the risk of it being mishandled in shipping to the buyer. Yikes! Not worth a 3% profit.
I highly doubt there are 10,000 collectors for these. My 2017 MS70PL palladium has been listed on the forum off an on for a year for $5000 which is way below eBay prices ($6000-$8000 sold listings), and no one has bought it.
You do you. Big coin shops regularly buy/sell gold bullion on smaller margins than 3%. I am not even opening the box, I am literally just sticking it into a bigger box with a piece of paper, sticking a shipping label on it, and sending it right back out to them. It is maybe 20 minutes of work tops all in. I get you are risk adverse and probably quite inexperienced in flipping coins, but that is no reason to attack what somebody else is doing.
Also, I thought it was going to be a ~$190 profit prior to the dealer pulling back a bit due to the lack of a quick sellout. I will still take a $90ish profit (first class shipping to the wholesaler) over returning it.
3% in 2 weeks is still miles higher than this money will get sitting in my savings account.
My comments are not the least bit attacking. I agree: do what you want. But for the average person, buying this coin is definitely not worth it. Add in the risk of holding it for a few weeks and wondering what will happen to the price (like so many “flippers” do). You are right that 3% beats the savings account, but the analogy to gold bullion spreads is a poor example - Palladium with a 50% premium is not a well-defined, highly liquid segment of the market. Just my two cents. No need to attack me 🙂
You do understand the concept that I executed here, yes?
I called a wholesaler at 11am today and asked "What are you paying for the Palladium Eagles releasing later today?" They respond "$200 over sale price." I respond "I will try to get one and will call to confirm and lock in my sale price."
Wait for noon, buy it. Call them and tell them, "I got one, and I will sell it to you, let's enter into a sales contract."
They say "We have a lot coming in already, but we'll still buy it in respect to the fact you called earlier, except only for $100 over sale price, not $200." I do not really care as I have no interest in keeping it, and I agree.
They send me some emails to print out and stick in the box when I ship to them.
Whenever I receive it, I rebox it with the emails, and ship it.
I get a check a week later for my purchase price plus some juice for a bit of work.
In the event they balked on buying, I would simply return it to the mint and get my money back. The probability of them doing so after verbally confirming their appetite prior is virtually nil as it would damage their ability to get other stuff down the road. It is a virtually zero risk proposition.
I would have not bought it if I could not get an upfront confirmation of a buyer.
I think I have now spent more time explaining the concept of how this works and how there is virtually zero risk of losing money than I will actually spend flipping it.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
Comments
I'm thinking this won't sell out for a couple of days... maybe
Still available
they're trying to make a mint off these.
It is amazing there are about 80 of these listed on eBay at $3,500 to $6,000. And so far I do not see one sold completed presale...
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
I stand by my assessment. Too many coins at that price.
Well, just Love coins, period.
1 hour on sale!
2019 still on sale, so they decide to lower mintage and then make the premium 50%.
this is signalling there are already too many palladium issues. perhaps they wise up and stop it this year.
This is my fear
Still available
Federal Law mandates the minting of Palladium coins. Unless Federal Law is changed the Mint will issue Palladium coins. As long as there is Palladium mining in the United States, there will be Palladium coins issued by the United States Mint...
If the Mint would change the design there would be more interest. The platinum proof $100's have different designs and that makes them more interesting to keep.
And what is with the absurd $25 stated value? Make it $1,000 and see if that helps. Maybe they need to try a new Mars or Venus concept next time. LOL.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
1 hr 30 mins still going.
50% over... a collection killer.
perhaps next year they are painted...
Highest bid on eBay is only $2,550, and still no indicated completed sales at or above the issue price?
Returns will break records at this rate. The classic flip-flop.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
https://www.coinworld.com/news/us-coins/american-eagle-palladium-coin-sales-to-begin-in-september
Federal Law dictates the Obverse and the Reverse designs. Unless Federal Law is changed, the design can not be changed...
Unfortunately, the odds of getting Congress to mess with coin designs, seems highly unlikely as they have bigger fish to fry.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
I flipped mine for a $100 profit. Better than nothing.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
DOA
“I flipped mine for a $100 profit. Better than nothing.”
Congratulations! Had I known your source, I could have accepted another 25-50 coins offered to me today for basically $0 over mint cost and had a nice payday.
Wondercoin
I think they should reduce the premium on the 2019s to get those moved out...
It's all about what the people want...
just got a text from a trusted "source" -- they seem to be moving at a snails pace (roughly 1 per minute). If you are interested, there are roughly 60 remaining...
now less than 20...
Well if they actually do sell out today at the Mint, several eBay sellers might be able to breakeven after fees, shipping, and insurance. Edited to add that it is close to your 12:15 number (on the West Coast).
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
I think there will be alot of cancellations -- people get scared or having second thoughts. It's a high premium, and it didn't "sell out" fast enough
Only 6 left...
2 left...
last 1 for today...
Yes you are right about the numbers. Should be public info IMHO.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
Sold out.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
The premium on the 2025's with only 3,000 mintage and 2,500 buyers will be killer...
Surprised it's unavailable now didnt think that would happen with the high price of $3k.
Collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
sales on the mint site from now into the future will reveal a bit about how many speculators there were in this.
I can tell you it took me 45 minutes to get through on the phone with the wholesaler I sold to. So I assume there were quite a few flippers.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
Wow it actually sold out.
I know there are a lot of speculators in on this. People with no connection to coins were trying to get people to buy these for them, presumably to flip.
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
next question, will the 69s fall below issue price ?
They did the last time.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
Going, going, gone.
So virtually all of these that get graded should be labeled 1'st Day of Issue....right?
So the Mint scores $30 million in sales in one day, less a pre-arranged metal cost based on recent pricing, and less payment for the blanks, plus simple just copy the dies from before.
So as a guess say $2250/oz palladium, plus $250/oz. or $2-3 million??? for actual striking, marketing, and selling expenses as a rough guess. We pay shipping already.
So they might have actually have made $5 million on these??? Usually they have a loss on things like these that have low mintages, so was this a win for the Mint?
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
This coin is NOT sold out. It IS Currently Unavailable. Big Difference...
The Mint has never made any money on the Palladium coins in the past. The price Increase of $262.50 on March 17, 2020, MAY be enough to make these profitable...
I'd never pay such a ridiculous premium for one of these. I'd also never buy a $3000 coin to flip for a $100 "profit". That $100 is decreased by shipping costs, my time, and the risk of it being mishandled in shipping to the buyer. Yikes! Not worth a 3% profit.
I highly doubt there are 10,000 collectors for these. My 2017 MS70PL palladium has been listed on the forum off an on for a year for $5000 which is way below eBay prices ($6000-$8000 sold listings), and no one has bought it.
Usually they have a loss on things like these that have low mintages, so was this a win for the Mint?
Yes that was my point, maybe this was not a Mint loss for a change.
It would really be good to know if the Mint will actually release info of the bot and or duplicate orders they had to cancel on this. There was some mention this transparency could happen? Critical info prior to 1945.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
You do you. Big coin shops regularly buy/sell gold bullion on smaller margins than 3%. I am not even opening the box, I am literally just sticking it into a bigger box with a piece of paper, sticking a shipping label on it, and sending it right back out to them. It is maybe 20 minutes of work tops all in. I get you are risk adverse and probably quite inexperienced in flipping coins, but that is no reason to attack what somebody else is doing.
Also, I thought it was going to be a ~$190 profit prior to the dealer pulling back a bit due to the lack of a quick sellout. I will still take a $90ish profit (first class shipping to the wholesaler) over returning it.
3% in 2 weeks is still miles higher than this money will get sitting in my savings account.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
>
Goldminers...
>
On a Normal year I would assume that the price Increases would put the Mint in the Green, however, with COVID I assume expenses are through the roof vs. a normal year...
If you really want one be on the website 6:30am CT history says they’ll be some.
“I'd also never buy a $3000 coin to flip for a $100 "profit". That $100 is decreased by shipping costs, my time, and the risk of it being mishandled in shipping to the buyer. Yikes! Not worth a 3% profit.”
I agree with you for any coin bought from the Mint that requires (2) successful deliveries to earn that 3%. I could literally write a (short) book on what has gone wrong over the years with shipped coins not only from the Mint, but from buyers of mint product reshipping the items out again. Add the COVID restrictions on normal delivery procedure into the mix and one would have to almost be a thrill seeker in my opinion to want to do this risking $3,000 to net $80 or $90.
Rest assured, I am not belittling here earning an honest $80 or $90 for a days work. I am talking about the energy expended monitoring (2) successful deliveries in this a COVID environment we live in today. And, risking $3,000 on top of that if something goes terribly wrong.
Now, doing a favor for a colleague- that’s another story.
Just my 2 cents.
Wondercoin
Nothing good can be said about this virus. It is causing a lot of unreported and unimagined damage to millions of people in many different ways.
However, I give great kudos to the Mint. I reluctantly bought one in spite of my major price misgivings for my modern set addiction, and as unbelievable as it is, I just got a shipping and tracking notification that I will have it in hand by 10:30 AM tomorrow on the West Coast.
It was $20 extra, but that is projected to be really fast. Now my big question is, what will it look like? Uncirculated coins can be tough for 70's.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
My comments are not the least bit attacking. I agree: do what you want. But for the average person, buying this coin is definitely not worth it. Add in the risk of holding it for a few weeks and wondering what will happen to the price (like so many “flippers” do). You are right that 3% beats the savings account, but the analogy to gold bullion spreads is a poor example - Palladium with a 50% premium is not a well-defined, highly liquid segment of the market. Just my two cents. No need to attack me 🙂
I think the gold with mintage 1945 is another story. I’ll give that one a shot.
You do understand the concept that I executed here, yes?
I called a wholesaler at 11am today and asked "What are you paying for the Palladium Eagles releasing later today?" They respond "$200 over sale price." I respond "I will try to get one and will call to confirm and lock in my sale price."
Wait for noon, buy it. Call them and tell them, "I got one, and I will sell it to you, let's enter into a sales contract."
They say "We have a lot coming in already, but we'll still buy it in respect to the fact you called earlier, except only for $100 over sale price, not $200." I do not really care as I have no interest in keeping it, and I agree.
They send me some emails to print out and stick in the box when I ship to them.
Whenever I receive it, I rebox it with the emails, and ship it.
I get a check a week later for my purchase price plus some juice for a bit of work.
In the event they balked on buying, I would simply return it to the mint and get my money back. The probability of them doing so after verbally confirming their appetite prior is virtually nil as it would damage their ability to get other stuff down the road. It is a virtually zero risk proposition.
I would have not bought it if I could not get an upfront confirmation of a buyer.
I think I have now spent more time explaining the concept of how this works and how there is virtually zero risk of losing money than I will actually spend flipping it.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
Cost of shipping, risk of losing it in the mail as Mitch explained...I understand how it works, just don’t think this one was worth it for the outlay